DaonDemo'sIdentityXPlatformatFinovateFall2016inNYC

September 20, 2016

Daon is a software company that enables trust online and we do that by authenticating factors that are uniquely you, or biometrics. On Thursday, September 8th, 2016 Daon demonstrated its IdentityX® Platform for mobile biometric authentication.

Conor White, President of the Americas at Daon, did something crazy on stage – he logged into his real USAA bank account live in front of more than 1,600 people! He was able to do this because he didn’t need to type in a username or password, he logged in with his face by taking a selfie (with a blink for liveness detection). Conor then demonstrated how he could also login using voice recognition, demonstrating biometric choice which enables 100% inclusion. USAA is an innovative financial institution that is obsessive about the customer experience. By using IdentityX for biometric authentication they have improved the customer experience and Net Promoter Score (NPS) with an easy, convenient and secure alternative to traditional authentication methods.

Next, Conor demonstrated technology company Mastercard’s new innovation that makes it easy to pay online, known as Identity Check™ Mobile or as the media refers to it – “Selfie Pay.” Identity Check allows customers to easily authenticate with their face or fingerprint when shopping online, mitigating fraudulent purchases while also making it very convenient to authorize legitimate purchases thus reducing “false positive” declines. IdentityX is one of the authentication technologies behind Identity Check.

Conor posed the question – “Do we have a security problem or a convenience problem?” The answer is both. One-third of all shopping carts are abandoned today. Last year, JAVELIN said that there was over $9 billion in card fraud but over $118 billion in lost revenue because of declined transactions and cart abandonment. The convenience number is 13x the security number. That’s what Daon does, we provide convenient authentication that keeps customer’s happy because it is easy.

View the video of Daon’s Finovate demo above. Today, most of our cyber security issues are because we authenticate things, like passwords and tokens. It’s time to authenticate the person in a way that is uniquely them. Biometrics, uniquely you!

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